Kuwait

Kuwait says oil buyers don’t want to boost imports next year

The OPEC member exports about 2 million barrels a day of crude, most of it to Asian countries such as China, South Korea, Japan and India

Sustainable transportation is going to be integral to cities down the road

With the rate of urbanisation ramping up, the demand for more sustainable and carbon-neutral options for mobility is also increasing

PIF subsidiary, ACWA Power to develop MENA’s largest solar plant in Saudi Arabia

The 2,060MW solar plant is set to be developed in Saudi Arabia’s Makkah province

Oil

Oil poised for weekly gain with China softening virus curbs

West Texas Intermediate traded above $81 a barrel after a run of four daily gains

Rise report 2022

Covid-19 recovery efforts triggered new energy access policies, reveals new World Bank report

Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator

Amea Egypt

UAE’s Amea Power completes $1.1bn renewable energy deal in Egypt

The company will build, own and operate the 500MW solar PV plant and 500MW wind farm in the country

QatarEnergy, ConocoPhillips sign agreement to supply LNG to Germany

The LNG will be sourced from two joint ventures between both entities that hold interests in Qatar’s North Field projects

UAE reduces fuel prices for December 2022

The price of Super 98 has been reduced to Dhs3.30 per litre

OPEC+ seen considering deeper output cuts as oil market falters

Global markets are by some measures tight, with inventories in developed nations at the lowest since 2004

ADNOC awards $4bn agreements for integrated drilling fluids services

UAE plans global energy push with Adnoc’s $150bn spending

Adnoc will also accelerate its target for raising crude output capacity to 5 million barrels a day by 2027

Kuwait exports first shipment of jet fuel from new Zour refinery

The first cargo is currently being shipped aboard the Pacific Sarah tanker

Saudi Aramco

Aramco unit hires HSBC, Citigroup for Riyadh share sale

The company is planning to sell 50 million shares, or a nearly 30 per cent stake

Oil

Oil set for third weekly loss on price-cap impasse, demand fears

Crude has declined this month, overturning the gains made in October

Saudi Aramco announces record Q2 and H1 2022 results

Saudi Aramco Base Oil gets approval for Riyadh share offering

Saudi Aramco is aiming to sell 50 million shares – a 29.7 per cent stake – in the company

COP28 will be UAE’s most important event in 2023, says Sheikh Mohammed

COP28, which will be hosted in 2023 at Expo City Dubai, will welcome high-level participation including over 140 heads of state and government leaders, 80,000 delegates and more than 5,000 media professionals

Saudi Aramco signs 59 agreements to foster local industrial ecosystem

The purchase agreements with local and global manufacturers are valued at $11bn, and will reinforce supply chain resilience

Abu Dhabi’s Masdar inks agreement to develop solar plant in Turkmenistan

The agreement builds on the Masdar-Turkmenistan MoU signed last year for development of renewable energy projects

QatarEnergy inks 27-year deal to supply LNG to China

QatarEnergy inks 27-year deal to supply LNG to China

The liquified natural gas will be supplied from QatarEnergy’s North Field East expansion project to Sinopec’s receiving terminals in China

Oil steadies after wild ride with Chinese demand, OPEC+ in focus

Oil prices have weakened this month on concerns about demand

Federal law approved regulating linkage of renewable energy to National Grid courtesy_WAM

UAE approves law regulating linkage of renewable energy production units to electrical grid

The law aims to achieve the UAE’s objectives in terms of diversifying renewable energy sources and optimally utilising natural resources

rigs

Abu Dhabi’s ADNOC Drilling purchases three offshore jack-up rigs for $320m

The acquisition supports the company’s accelerated fleet expansion and growth strategy

Egypt to start building $11bn wind farm from 2024

A consortium that includes Abu Dhabi’s Masdar and Infinity Power Holdings will finish building the 10-gigawatt onshore plant by 2030

Mubdala Air carbon exchange

Mubadala acquires stake in Hub71-based AirCarbon Exchange

Last year, ACX was recognised as the ‘Best Carbon Exchange’ in Environmental Finance’s prestigious Voluntary Carbon Market Rankings

Oil

Oil poised for second weekly decline on gloomy demand outlook

Oil is trading near the lowest level since September

UAE’s Masdar to collaborate with Jordan’s energy ministry on renewable energy projects

In 2015, Masdar delivered the Tafila wind farm in Jordan, which increased the country’s total power capacity by 3 per cent

Saudi Arabia announces 5 mining exploration opportunities

Hydrogen to Neom pacts in Saudi Arabia’s South Korea deals blitz

A total of 26 memorandums of understanding have been signed for cooperation on projects

Etihad Airways becomes first airline to participate in World Energy’s net-zero program

Etihad Airways becomes first airline to participate in World Energy’s net-zero program

The announcement comes on the heels of the two companies powering the first net-zero flight using Sustainable Aviation Fuel (SAF) via a Book & Claim system

Aramco says hydrogen talks with Japan, South Korea are advancing

Much of the gas for Aramco’s blue hydrogen will come from Saudi Arabia’s massive Jafurah field

UAE’s Tabreed reports Dhs400m in nine-month net profit

The group revenue increased by 13 per cent to total Dhs1.66bn for the first nine months of the year

Why clean energy’s corporate patrons are buying less this year?

Why clean energy’s corporate patrons are buying less this year?

There are now more than 125 gigawatts of clean power under contract to large companies around the world